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A comment on Some things never leave you – Christian Livermore on poverty. Parent comment

Re:Some things never leave you – Christian Livermore on poverty by josephcsible on Thursday November 24, 2022 @02:25PM (#33735253)
> they're usually only available at predatory rates, due to the huge risk of default.

This seems contradictory: if rates are sky-high, but they need to be that high to avoid the lenders losing money due to the huge risk of default, then they're not predatory.

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Re:Some things never leave you – Christian Livermore on poverty by anonymouskimmer on Thursday November 24, 2022 @03:01PM (#33735596)
Predatory on those who pay, not predatory on those who default. What's predatory on those who default is the pay-to-play system of credit bureaus.

Credit makes the modern economy run, but it churns out winners and losers. And some types of credit have more winners or more losers. At what point should society start banning such credit? Just once it crosses over into loan-sharking? Once it results in a net decrease of GDP? Have such analyses been done?

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